Turkish-Arab Economic Forum
Presentation by TAV Airports Holding
“A unique PPP example in Infrastructure Projects”
Burcu Geriş
CFO
TAV Airports Holding
TAV Airports Holding
«A unique PPP example in Infrastructure Projects»
April 2013,
Burcu GERİŞ, CFO
TAV Group is specialised in only airports.
TAV can offer a wide range of solutions, from planning to construction, from
full fledge management to financing of airports under one umbrella.
This alone, globally positions TAV as a unique airport partner.
TAV Airports - AdP: A Global Footprint
TAV Airports : 12 airports in 6 countries under management representing 72m pax
TAV Airports + AdP: A global platform of 37 airports under management representing 200m Pax
13 Regional airports
Mexico North Central (25.5%)¹
 13mn pax
 Operator & Strategic partner
France
 Paris-CDG: 62mn pax
 Paris-Orly: 27mn pax
 Owner and operator
Schiphol Group (8%)
 51mn pax
 Industrial cooperation
Liège (25.6%)
 0.6mn tons of freight
 Strategic partner
Macedonia (100%)
 Skopje & Ohrid: 0.9mn pax
 Concession operator
Georgia (76%)
 Tbilisi & Batumi: 1.4mn pax
 Concession operator
Turkey
 Istanbul Ataturk: 45mn pax
 Ankara: 9mn pax
 Izmir: 9mn pax
 Gazipasa
 Concession operator
Amman – Jordan (9.5%)
 6mn pax
 Management contract
 Strategic partner
Cambodian Airports
 Phnom Penh & Siam Reap:
4mn pax
 Assistance in management
Conakry Airport (29%)
 0.3mn pax
 Operator
TAV Airports
AdP
Algier Airport
 5mn pax
 Operator
Tunisia (67%)
 Enfidha & Monastir
3.3mn pax
 Concession operator
Jeddah (Hajj Terminal) –
Saudi Arabia
 7mn pax
 Management
contract
Mauritius (10%)
 3mn pax
 Operator
 Strategic partner
Medinah (Saudi Arabia) (33%)
 Concession operator
4
TAV Airports Holding: An Integrated Business Model
Airport Companies
Service Companies
Atatürk (100%)
ATÜ (50%)
Esenboğa (100%)
BTA (67%)
Adnan Menderes
(100%)
Havaş (100%)
Gazipaşa (100%)
TGS (50%)
Tbilisi & Batumi
(76%)
Havaş Europe
(67%)
Monastir & Enfidha
(67%)
O&M (100%)
Skopje & Ohrid
(100%)
IT (99%)
Latvia (100%)
Security (100%)
Medinah (33%)
Synergy between TAV Airports and
TAV Construction is another key
success factor in PPP projects.
5
TAV Construction Projects (end of 2013)
TURKEY





Istanbul Ataturk International
Airport Construction, Extension
and Renovation Works
Ankara Esenboğa International
Airport
İzmir Adnan Menderes
International Airport
Completed Projects Value
Alanya Gazipasa Int. Airport
Istanbul Ataturk Int. Airport Ext.
and Tri-Generation Plant
GEORGIA


Tbilisi International Airport
USD 6.8 Billion

Ongoing Projects Value


Marina 101 Project
USD 8.8 Billion
Batumi International Airport
SAUDI ARABIA

UAE







UAE
Abu Dhabi Midfield Terminal
Building Project

Emirates A380 Hangars Roof
Aircraft Maintenance Hangar
Project
Medinah PMI Airport Project
Tohid Iranian School
Al Sharaf Shopping Mall
Majestic Tower in Sharjah
Sulafa Tower Project
Emirates Financial Tower

Abu Dhabi Int. Airport Pile Caps
TUNISIA
New Enfidha International
Airport


OMAN
QATAR

New Doha International Airport
Terminal Complex and A, B & C
Concourses
Skopje Alexander the
Great Airport
Ohrid St. Paul the
Apostle Airport
TURKEY
EGYPT
MACEDONIA

Cairo International
Airport Terminal
Building 3
Development of Muscat
International Airport
Infrastructure Works

Izmir Adnan
Menderes Domestic
Terminal Project
LIBYA


New Tripoli Int.
Airport
New Sebha Int.
Airport
Parties in Contracts - Typical EPC vs. BOT scheme
CLIENT (GRANTOR)
BOT /
CONCESSION
AGREEMENT
Technical
Consultants
3rd Party
Independent
QA/QC
PROJECT COMPANY
LENDERS
(Subsidiary of TAV Airports)
EPC
CONTRACT
Architect
Author
TECHNICAL
ADVISOR
CONTRACTOR
(TAV Construction)
LEGAL
ADVISORS
Subcontractors
Suppliers
Synergy with TAV Construction
12 BOT Projects delivered under TAV Airports & TAV Construction harmony
Istanbul Ataturk Airport International Terminal and Extension, Turkey
Ankara Esenboga International Airport, Turkey
Izmir Adnan Menderes International Airport, Turkey
Izmir Adnan Menderes International Airport Extension, Turkey
Tbilisi International Airport, Georgia
Batumi International Airport, Georgia
Istanbul Ataturk Airport Domestic Terminal Renovation, Turkey
Enfidha Hammamet International Airport
Istanbul Ataturk Airport, Extension and Trigeneration, Turkey
Alanya Gazipasa Airport, Turkey
Skopje Alexander The Great International Airport, Macedonia
Ohrid St.Paul The Apostatle International Airport, Macedonia
8
SAMPLE PPP CASES
Enfidha Hammamet International Airport
Medinah Prince Bin Abdullaziz International Airport
Enfidha Hammamet
International Airport
1
2
3
4
5
December 2007
Enfidha Hammamet International Airport
6
7
8
9
10
11
12
13
14
15
CONTRACT PERIOD - MONTHS
16
17
18
19
20
21
22
23
24
February 2008
1
2
3
4
5
Enfidha Hammamet International Airport
6
7
8
9
10
11
12
13
14
15
CONTRACT PERIOD - MONTHS
16
17
18
19
20
21
22
23
24
April 2008
1
2
3
4
5
Enfidha Hammamet International Airport
6
7
8
9
10
11
12
13
14
15
CONTRACT PERIOD - MONTHS
16
17
18
19
20
21
22
23
24
June 2008
1
2
3
4
5
Enfidha Hammamet International Airport
6
7
8
9
10
11
12
13
14
15
CONTRACT PERIOD - MONTHS
16
17
18
19
20
21
22
23
24
August 2008
August 2008
1
2
3
4
5
Enfidha Hammamet International Airport
6
7
8
9
10
11
12
13
14
15
CONTRACT PERIOD - MONTHS
16
17
18
19
20
21
22
23
24
October 2008
1
2
3
4
5
Enfidha Hammamet International Airport
6
7
8
9
10
11
12
13
14
15
CONTRACT PERIOD - MONTHS
16
17
18
19
20
21
22
23
24
December 2008
December 2008
1
2
3
4
Enfidha Hammamet International Airport
5
6
7
8
9
10
11
12
13
14
15
CONTRACT PERIOD - MONTHS
16
17
18
19
20
21
22
23
24
February 2009
1
2
3
4
5
February 2009
Enfidha Hammamet International Airport
6
7
8
9
10
11
12
13
14
15
CONTRACT PERIOD - MONTHS
16
17
18
19
20
21
22
23
24
April 2009
April 2009
1
2
3
4
Enfidha Hammamet International Airport
5
6
7
8
9
10
11
12
13
14
15
CONTRACT PERIOD - MONTHS
16
17
18
19
20
21
22
23
24
1
2
3
4
5
June 2009
Enfidha Hammamet International Airport
6
7
8
9
10
11
12
13
14
15
CONTRACT PERIOD - MONTHS
16
17
18
19
20
21
22
23
24
1
2
3
4
5
August 2009
Enfidha Hammamet International Airport
6
7
8
9
10
11
12
13
14
15
CONTRACT PERIOD - MONTHS
16
17
18
19
20
21
22
23
24
October 2009
1
2
3
4
5
Enfidha Hammamet International Airport
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
CONTRACT PERIOD - MONTHS
22
23
24
Facts and Figures (Enfidha Airport)
Duration of the Construction
: 24 Months
Operation Period
: 40 years
Terminal Building Area
: 90,000 m²
Total Construction Area
: 800,000 m²
Apron Area
: 129,000 m²
Passenger Boarding Bridges
: 18 units
Total Passenger Capacity
: 7m
Total Project Cost
: USD 715m
Total Financing Raised
: USD 513m
Enfidha Airport, is financed under a 20 years Project Finance
regime. The group of lenders are led by IFC, EIB, AfDB,
Societe Generale, RBS, StandardBank and Proparco.
Medinah Prince Muhammad Bin
Abdullaziz International Airport
24
First Full Fledge Airport PPP in Kingdom of Saudi Arabia
To be Completed in 32 months (February 2015)
Expected to cost USD 1.2b
State-of-the-art 138,000 sqm passenger terminal building
Construction of various ancilliary buildings
Extension of runway and construction of a number of new taxiways
18 Passenger Boarding Bridges and 20 new remote stands,
Upgrade of airport lighting and fueling system
25
Total Financing Raised: USD 1.1 b (Lenders: NCB, ANB, SABB-HSBC)
First large project finance transaction in KSA which is wholly financed on a Shariah compliant basis
First infrastructure project in KSA with traffic risk element
26
Thank you
Appendix: Aéroports de Paris Acquired 38% of TAV Airports (2012)

Aéroports de Paris (ADP) is one of the leading European
airport groups
●
EUR 2,502m revenue and EUR 972m EBITDA in 2011
●
88mm pax in Paris (CDG and ORY) + 40mm Pax
under management in 9 countries
●
Over 9,100 professionals
Shareholder Structure
(1)
8.1%
(6)
38.0%
(2)
8.1%
(3)
2.0%
(4)
3.5%
(5)
40.3%
1.
2.
Tepe Insaat Sanayi A.Ş.
Turkish conglomerate focused on
infrastructure and construction
Akfen Holding A.Ş.
Holding company operating in the
infrastructure, construction, seaport, REIT and
energy sector
3.
4.
5.
6.
Sera Yapi Endustrisi A.Ş.
Focussed on construction in Turkey & MENA
region
Other Non-floating
Free Floating
Aeroport de Paris*
Internationally acclaimed airport operating company
with global operations
28
*Through Tank ÖWA alpha GmbH